Rev does a very good job with a relatively quick turnaround time but traditional transcription services just don’t have much of a future.
Digital Anarchy makes a Premiere plugin called Transcriptive. The plugin works in partnership with the two major online speech recognition engines – Speechmatics and Watson.
The plugin bounces any interview to one of the two engines, the speech recognition engine does the heavy lifting of analyzing the audio and creating the transcription and then that file gets bounced back into the plugin interface in Premiere and gets married to the media file.
There are caveats. It costs money to use the speech engine services and the speech analysis makes mistakes. But here’s why it’s the future of transcription, the mistakes are minimal. I’d guess that it’s accuracy rate is about 95%. The cost of using the speech recognition services is a small fraction of the cost of any traditional service and most importantly the turnaround time for this is a few minutes. For my most recent project I had several 30min interviews and I was able to get transcripts created in less than five minutes.
The only limiting factor at the moment is that it’s a Premiere plugin only but I’m sure that will change.
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